The former chief executive of software maker Lernout & Hauspie Speech Products NV said he would waive extradition to Belgium to face fraud charges if he is released from jail for 10 days and allowed to get his affairs in order in the U.S.

Gaston Bastiaens, 54 years old, was arrested Saturday at his home in Winchester, Mass., on a Belgian warrant accusing him of fraud, stock-market manipulation and insider trading. He was held over...